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Banking & Finance

October 03, 1994|From Times Staff and Wire Reports

Key Mortgage Rate Rises Again: The Federal Home Loan Bank of San Francisco said the 11th District cost of funds, the rate to which many adjustable-rate mortgages are tied, rose to 3.945% in August from 3.860% in July. It was the fifth-straight monthly increase in the rate after it steadily declined during the previous 3 1/2 years. The rate measures the average cost of funds to the thrifts and financial institutions in the bank's 11th District, which covers California, Arizona and Nevada.

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